Amerada Hess discovers oil offshore Equatorial Guinea

Mar 25, 2002 01:00 AM

Amerada Hess Corporation reports that it has made an oil discovery offshore Equatorial Guinea on Block G in the Rio
Muni Basin. The discovery, named Elon, was made by the G-8 well and encountered 157 feet of net oil pay. The well was
drilled to a total depth of 5,977 feet in approximately 210 feet of water. The G-8 well is located about 15 miles
northeast of Amerada Hess' Ceiba Field and 6 miles southeast of the recently announced Akom discovery.
"Importantly, the G-8 well has established an extension of the play fairway into the shallower water portion of the
Rio Muni Basin," said Brian Maxted, Amerada Hess' executive in charge of West Africa operations.

Amerada Hess has an 85 % working interest in and is the operator of Block G and adjacent Block F. Amerada Hess'
partner in the blocks is Energy Africa of South Africa, which has the remaining 15 % working interest. The government
of Equatorial Guinea has a carried 5 % interest in Ceiba Field production and would have a carried 5 % participating
interest in any Okume, Oveng, Ebano, Akom and Elon area commercial production.

Amerada Hess, headquartered in New York, is a global integrated energy company engaged in the exploration for and the
production, purchase, transportation and sale of crude oil and natural gas, as well as the production and sale of
refined petroleum products.

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